Starting a new business, whether it’s for the first time or a repeat, is always an interesting time.
Experience tells us that getting things right at the start can save a lot of time and prevent issues later on. We’ve found that thinking of a start up as an assembly process is a good way to begin. A number of essential building blocks are needed and no one part is more or less important than any other. However you need all of the parts in their correct place at the correct time to ensure that you have a good foundation for the future. It will be beneficial to draft a short business plan, a few pages of A4, to communicate your objectives and how you will achieve them. As you progress, this can be updated and provide a cornerstone of the business as it goes forward.
There are a significant number of tasks and procedures to go through when starting a new business. These range from choosing a trading name, the type of company (sole trader, partnership, limited company) where you will trade from, who to bank with, through to notifying the relevant authorities. Understanding the options and making an informed choice for your business at the start, has proven to significantly reduce costs, time and frustration later on.
Here are some typical activities and benefits companies can realise from engaging with Solve’s business advisors:
A pre-requisite of any Solve advisor is that they have a wide knowledge and experience of running and managing businesses. They are therefore ideally placed to offer this skill, knowledge and experience to those that are starting a new venture. The approach taken by Solve advisors is to undertake and deliver a variety of services including those shown below to ensure your company starts with the best possible foundation for profitable growth:
We have identified the most important issues you may be facing if you are STARTING A NEW BUSINESS – and are here to help.